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View Diary: Krugman: “Years of Tragic Waste.” (U.S. economic policy since '08: "...horrifying failure.") (255 comments)

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  •  When the 1% consult with the 1%, of course... (9+ / 0-)

    they...

    "...think they are doing a great job..."
    ...because in their reality, the people they know have gotten richer over the last several years:  
    ...In 2010, as the nation continued to recover from the recession, a dizzying 93 percent of the additional income created in the country that year, compared to 2009 — $288 billion — went to the top 1 percent of taxpayers, those with at least $352,000 in income. That delivered an average single-year pay increase of 11.6 percent to each of these households...
    In the insulated bubble of privilege where people like Larry Summers exist, things are not just fine, they are great!  Their wealth has increased, as has the wealth of their cronies, their family friends, and all the people with whom they associate.  

    They just can't--and don't want to--comprehend and/or acknowledge that the vast majority of people have lost their personal wealth and wages in order to provide for the windfall experienced by the Larry Summers' of the nation.

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